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Cantor Takes More Traders From Advest

20 Feb 2004

Cantor Fitzgerald has hired four corporate traders from Advest Securities, as part of the continued expansion of its fixed-income sales and trading businesses.

Cantor Fitzgerald has hired four corporate traders from Advest Securities, as part of the continued expansion of its fixed-income sales and trading businesses. The four are Robert Jackson, who trades short-end securities; Paul Maccron, who trades utilities; Michael Frankel, a financials trader; and Jordan Goodman, who focuses on short industrials. They report to Jackson.

Advest did not counter Cantor's offers, according to one headhunter. Herb Finn, senior managing director and head of sales at Advest, did not return calls by press time.

Advest has recently made several hires in its high-grade corporate bond trading, research, and sales operations (BW, 1/23) and also lost of a few traders on its mortgage side to Cantor (BW, 12/16). An official at Cantor Fitzgerald confirmed the hires as part of the firm's effort to build across a variety of products. The firm expects to hire hundreds of employees over the next few years.

20 Feb 2004